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FACS 6th Grade
Strand 3 Standard 1
1 class periods of 45 minutes each
Students identify between needs and wants.
Busted worksheets and calculators
Economics is a critical part of family life. As students are able to focus their resources on needs rather than wants they will begin developing habits that will aid them in their present home and future families.
Through the activity the teacher should continue to ask students to think about how they are using the "Big 5 of Economics".
General cost of items they would want to have/buy.
Improve the student's ability to identify between needs and wants.
Great! less than 20%
Out of control greater than 30%
Note: Food always comes up as a need, but realistically most food items kids this age purchase fall into the wants. When they list "clothes" it's generally a want but if they list specific items then it could be seen as a need. Again, the student can present their case but the class gets to decide.
Adapted from Chad Foster's Financial Literacy for Teens curriculum.